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Banks (Finance)

Customers Bancorp Prices Voting Common Stock Offering

Strategic Insights

— 1 min read

US-based bank holding company Customers Bancorp, Inc. (NYSE: CUBI) has priced an underwritten public offering of 2,189,781 shares of its voting common stock at a public offering price of USD 68.50 per share. The gross proceeds to the company is approximately USD 150m, which will be used for general corporate purposes, including refinancing, reducing or repaying indebtedness, repurchasing shares, and investments in Customers Bank and its subsidiaries.

Key Takeaways:

  • Customers Bancorp priced an underwritten public offering of 2,189,781 shares of voting common stock at USD 68.50 per share, resulting in gross proceeds of approximately USD 150m.
  • The company intends to use the net proceeds for general corporate purposes, including refinancing, reducing or repaying indebtedness, and investments in Customers Bank and its subsidiaries.
  • The underwriters' 30-day right to purchase up to an additional 328,467 shares will be exercised at the public offering price, less underwriting discounts and commissions.
  • Morgan Stanley, Keefe, Bruyette & Woods, and Raymond James & Associates, Inc. are serving as joint book-running managers for the offering, with B. Riley Securities, D.A. Davidson & Co., Hovde Group, LLC, and Maxim Group LLC acting as co-managers.
  • The company plans to use the net proceeds to support organic growth, which may include investments in Customers Bank and its subsidiaries, financing possible investments or acquisitions, and expanding the company's business.
  • The company expects to close the offering on or about September 5, 2025, subject to customary conditions.

Statistics:

  • 2,189,781 shares of voting common stock were offered at USD 68.50 per share, resulting in gross proceeds of approximately USD 150m.
  • B. Riley Securities, D.A. Davidson & Co., Hovde Group, LLC, and Maxim Group LLC acted as co-managers for the offering.
  • Customers Bank has over USD 22bn in assets, making it one of the 80 largest bank holding companies in the US.

Sources:

  • (C)2025 M2 COMMUNICATIONS, http://www.m2.co.uk (September 5, 2025)

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